50th Congress of the European Regional Science Association: "Sustainable Regional Growth and Development in the Creative Knowledge Economy", 19-23 August 2010, Jönköping, Sweden
The evaluation of economic development level is commonly measured by the growth rate of GDP. However, this single-dimensional measurement may cause potential issue to investigate sustainable economic development and growth model. An alternative framework is introduced to economic development analysis that includes the notion of growth feasible indicator (GFI). This indicator enables the examination to observe the potentiality of economic growth in the long run, which is normally hidden in the established model framework. The relationship between the GFI curve and public policy for sustainable development is also explored.